Greenfield Banking Company Mortgage Rates, Fees & Info

Greenfield, IN

LEI: 549300LCSS511JWT1A44

Tax ID: 35-0352340

5 stars - Updated: 3/28/24 - out of 5 stars, based on 11 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Greenfield Banking Company is a smaller bank specializing in Home Purchase and Refi loans. Greenfield Banking Company has a high proportion of conventional loans. Their top markets by origination volume include: Indianapolis, Connersville, Marion, New Castle, and Kokomo among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

Greenfield Banking Company has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Greenfield Banking Company is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.16% 3/28/24
30 Year Conventional Refi 5.61% 3/28/24
30 Year Cash-out Refi 6.33% 3/28/24
15 Year Conventional Purchase 6.65% 3/28/24
15 Year Conventional Refi 6.25% 3/28/24
15 Year Cash-out Refi 6.25% 3/28/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Greenfield Banking Company Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Greenfield Banking Company. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

129

Origination Dollar Volume (All Markets)

$41,685,000

Awards

Greenfield Banking Company 30 Year Conventional Loans bronze Greenfield Banking Company 30 Year Conventional Loans silver
Show all (2) awards

Relative Rate

Greenfield Banking Company's average 30 year fixed mortgage rate was 6.71%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.23%.

Relative Fees (Closing Costs)

Greenfield Banking Company's average total fees/closing costs for a 30 year fixed rate mortgage were $2,931.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market Originations Total Value Average Loan Average Fees Average Rate
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 113 $32,075,000 $283,850 $2,261 6.96%
Connersville, IN (FHA|USDA|VA) 1 $4,755,000 $4,755,000 $0 6.35%
Marion, IN (FHA|USDA|VA) 1 $2,405,000 $2,405,000 $0 6.27%
New Castle, IN (FHA|USDA|VA) 7 $1,245,000 $177,857 $2,250 6.35%
Outside of Metro Areas 4 $800,000 $200,000 $3,079 6.98%
KOKOMO, IN (FHA|USDA|VA) 2 $330,000 $165,000 $2,623 6.63%
MUNCIE, IN (FHA|USDA|VA) 1 $75,000 $75,000 $1,877 6.50%
Greenfield Banking Company's top markets include Indianapolis, Connersville, Marion, New Castle, and Kokomo among others.

Their top states include:
  • Indiana (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Greenfield Banking Company based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 129 $41,685,000 $323,140 $2,279 6.90%

    For 2023, Greenfield Banking Company's most frequently originated type of loan was Conventional, with 129 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 67 $25,355,000 $378,433 $2,959 6.66%
    Refi 27 $12,635,000 $467,963 $2,770 6.87%
    Other 17 $1,275,000 $75,000 $571 7.87%
    Home Improvement 13 $1,335,000 $102,692 $579 6.98%
    Cash Out Refi 5 $1,085,000 $217,000 $3,148 6.95%

    For 2023, Greenfield Banking Company's most frequently cited loan purpose was Home Purchase, with 67 originations. The 2nd most popular reason was Refi, with 27 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 56 $19,760,000 $352,857 $2,931 6.71%
    20 Year 26 $2,970,000 $114,231 $1,129 7.12%
    15 Year 15 $2,385,000 $159,000 $1,571 6.74%
    10 Year 14 $460,000 $32,857 $413 7.10%
    30+ year 8 $6,280,000 $785,000 $6,488 7.08%
    5 Year 8 $9,750,000 $1,218,750 $987 7.26%
    Other 2 $80,000 $40,000 $1,212 7.19%

    For 2023, Greenfield Banking Company's most frequently cited loan duration was 30 Year, with 56 originations. The 2nd most popular length was 20 Year, with 26 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 60 $15,310,000 $255,167
    $<1k 40 $2,520,000 $63,000
    $2k-3k 7 $3,325,000 $475,000
    $3k-4k 4 $1,580,000 $395,000
    $4k-5k 2 $1,630,000 $815,000
    $5k+ 2 $1,580,000 $790,000

    Greenfield Banking Company's average total fees were $2,931, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 60 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 54 $25,500,000 $472,222
    7-8% 32 $5,970,000 $186,563
    5-6% 30 $8,730,000 $291,000
    Over 8% 13 $1,485,000 $114,231

    During 2023, Greenfield Banking Company's average interest rate for loans was 6.71%, while their most frequently originated rate bucket for loans was 6-7%, with 54 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 50 $2,730,000 $54,600 $874 7.28%
    $200k-400k 29 $8,145,000 $280,862 $2,926 6.65%
    $100k-200k 27 $3,985,000 $147,593 $2,504 6.68%
    $400k-600k 14 $6,580,000 $470,000 $3,804 6.87%
    $1MM+ 7 $18,625,000 $2,660,714 $7,684 6.49%
    $600k-1MM 2 $1,620,000 $810,000 $6,442 6.06%

    2023 saw Greenfield Banking Company place emphasis on $100,000 or less loans with 50 originations, totaling $2,730,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 34 $7,060,000 $207,647 $2,199 6.92%
    $50k-75k 23 $2,375,000 $103,261 $1,478 6.97%
    $150k-250k 18 $5,290,000 $293,889 $2,898 6.87%
    $75k-100k 16 $2,380,000 $148,750 $1,445 7.15%
    $50k or less 15 $1,615,000 $107,667 $1,975 7.07%
    $250k+ 8 $7,010,000 $876,250 $5,514 6.48%

    Greenfield Banking Company lent most frequently to those with incomes in the $100k-150k range, with 34 originations. The second most popular income band? $50k-75k, with 23 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 26 $6,310,000 $242,692 $2,189 6.78%
    30-36% 26 $6,170,000 $237,308 $2,339 6.76%
    <20% 17 $3,025,000 $177,941 $2,052 6.67%
    42% 7 $1,645,000 $235,000 $2,741 6.80%
    41% 7 $1,055,000 $150,714 $1,780 8.16%
    40% 5 $1,495,000 $299,000 $3,061 7.15%
    43% 3 $275,000 $91,667 $796 7.83%
    44% 3 $1,225,000 $408,333 $3,544 7.54%
    48% 3 $885,000 $295,000 $2,991 7.29%
    37% 2 $290,000 $145,000 $1,500 6.37%
    >60% 2 $520,000 $260,000 $2,323 7.56%
    36% 2 $460,000 $230,000 $2,877 5.62%
    49% 2 $310,000 $155,000 $3,947 7.00%
    38% 2 $300,000 $150,000 $1,480 6.88%
    46% 2 $470,000 $235,000 $2,680 6.49%
    47% 2 $570,000 $285,000 $3,524 8.19%
    45% 1 $475,000 $475,000 $2,977 6.15%
    39% 1 $35,000 $35,000 $241 7.25%

    Greenfield Banking Company lent most frequently to those with DTI ratios of 20-30%, with 26 originations. The next most common DTI ratio? 30-36%, with 26 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 99 $21,165,000 $213,788 $2,243 6.90%
    Not applicable 10 $15,160,000 $1,516,000 $0 6.73%
    Not provided 6 $2,450,000 $408,333 $2,658 6.97%
    Black 10 $2,080,000 $208,000 $2,422 7.36%
    Asian 2 $430,000 $215,000 $1,137 6.18%
    Asian Indian 2 $400,000 $200,000 $4,194 6.50%

    Approval Rates

    Total approvals of all applications
    94.24%

    Greenfield Banking Company has an average approval rate.

    Pick Rate

    Approvals leading to origination
    60.47%

    Greenfield Banking Company has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    2948.5 1 $85,000 $85,000
    3355.75 1 $135,000 $135,000
    3358.5 1 $255,000 $255,000
    3460.75 1 $315,000 $315,000
    3578.06 1 $375,000 $375,000
    4713.0 1 $245,000 $245,000
    6412.88 1 $235,000 $235,000
    9389.25 1 $275,000 $275,000
    NA 121 $39,765,000 $328,636

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    129 $41,685,000 $323,140

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 21 $1,845,000 $87,857 $1,102 7.41%
    40-60% 11 $1,495,000 $135,909 $2,425 6.28%
    60-80% 36 $23,840,000 $662,222 $3,647 6.67%
    80-100% 37 $13,555,000 $366,351 $3,368 6.71%
    Under 20% 24 $950,000 $39,583 $264 7.39%